China's Guangzhou city's first-half GDP grew 3.8% year-on-year: Chinese media

The Guangzhou Municipal Statistics Bureau of Guangdong Province announced the economic situation for the first half of the year on the 29th. The city's gross domestic product (GDP) for the first half of the year was 1,508,099 million former (approximately 31.1 trillion yen).
Calculated at constant prices, this represents a 3.8% increase compared to the same period last year. By industry, the added value of the primary industry increased by 4.2% to 11,234 million yen (approximately 232 billion yen), and the secondary industry increased by 1.2% to 1.2 billion yen (approximately 232 billion yen).
The industrial sector increased by 2.1% to 370,587 million former (approximately 7.6 trillion yen), while the tertiary industry increased by 4.3% to 1,126,278 million former (approximately 23.2 trillion yen).
The added value of industries above the city's size (annual main business revenue of 20 million yen or more) increased by 0.7%.
In terms of value, automobile manufacturing fell 5.7%, but the decline narrowed by 0.7 percentage points from the first quarter (January to March). Electronic equipment manufacturing increased 1.6%, and petrochemical manufacturing
This was an increase of 6.3%. The total retail sales of consumer goods across the city increased by 5.9% to 561.122 billion yen (approximately 11.6 trillion yen), an increase of 2.4 percentage points from the first quarter.
Investment grew by 0.8% year-on-year. In particular, real estate development investment recovered at an accelerated pace, growing by 4.1% year-on-year. Disposable income per capita in the city's urban areas rose by 3.4% year-on-year to 46,000.
In rural areas, the average annual income increased by 5.6% to 310 formers (approximately 956,000 yen), and in rural areas it increased by 5.6% to 23,568 formers (approximately 486,000 yen).